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Dec 4, 2012
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fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff is not that big of an issue. maybe that's why the averages once again refuse to drop dramatically, the dow falling 60 points. despite the obvious impasse i saw firsthand when i appeared on "meet the press" with david gregory this weekend, i know i've been interpreting the market's relative success through a difficult period. success is defined by no huge hammering like we had during the debt ceiling crisis as a sign that either perhaps people didn't understand what awaits them -- no no! or that there might be a deal on the horizon to avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is really ticking in washington. ticking against a deal. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it seems like it got worse. i spent a to
fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff is not that big of an issue. maybe that's why the averages once again refuse to drop dramatically, the dow falling 60 points. despite the obvious impasse i saw firsthand when i appeared on "meet the press" with david gregory this weekend, i know i've been interpreting the market's relative success through a difficult period. success is defined by no huge hammering like we had during the debt ceiling crisis...
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but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they'recaring everybody about this, like we've got to keep pushing on or the world is going to end and it's not as bad a the politicians are pretending it is even. look, it's not a gd thing, but psyched into a level and it will be worse than the rea ffect of having the tax increase on the government level and that's the danger, using it as a tool
but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and...
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Dec 1, 2012
12/12
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you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problem we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip o'neil. when he was faced with ronald reagan in 1981, he knew he couldn't beat him in head-to-head negotiating but thought he could preserve the democratic party and welfare state in a long battle of attrition. o'neil who had a ran senate, republican president, used the power of house over and over again to slow the momentum. i think republicans got to understand they are not going to get any good deal from barack obama. he has contempt for them. he shows that on a regular basis. he's a hard-line left winger. they've got to think through the american people have chosen him he's going to be our presi
you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problem we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip...
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Nov 29, 2012
11/12
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are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on local, helping businesses retain customers an drive frequency in their local markets can really help drive through any potential impact of a fiscal cliff. >> jeff, what are you hearing in the valley about the fiscal cliff, how concerned are the other people that you talk to, the inknow vnovators out there, are millionaires, billionaires and many of whom are trying to start new businesses in the valley. >> you know, the perception is more about -- the talk is more about the potential impact on business and allowing -- not taking action to address this issue and letting it expire is bad for business. every
are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on...
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fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a deal to stop the more than half a billion dollars in spending cuts and tax increases from going into effect my next guest says the fiscal cliff is simply y2k fair all over again which amounted to nothing as i recall i agree we're not going to go over the cliff will hug him you know new year's eve he will be out of the work. so basically lots of speculation and very little substance but i can't say i'm not surprised particular day when i look at the recent rhetoric from this do nothing congress take us for example armed services committee just describe the looming defense cuts as quote an unaccep
fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a...
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Dec 6, 2012
12/12
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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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Dec 7, 2012
12/12
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FOXNEWSW
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geithner announces he wants to go over the fiscal cliff. they have to understand the person they are negotiating with he views it more through ideology than the economy. in his view, it's the equivalent of a grain of sand on the beach. even if he gets what he wants wishes is to raise the top rates from 35% to 39.6%, the revenues would merely fund this governor for roughly 8 days. it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question
geithner announces he wants to go over the fiscal cliff. they have to understand the person they are negotiating with he views it more through ideology than the economy. in his view, it's the equivalent of a grain of sand on the beach. even if he gets what he wants wishes is to raise the top rates from 35% to 39.6%, the revenues would merely fund this governor for roughly 8 days. it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would...
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Nov 30, 2012
11/12
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the fiscal cliff, no game. the a-team tells us whether the president will listen or whether president will listen or whether he will get ready to anand we can save you 10% on ground shipping over the ups store. look this isn' my first christmas. these deals all seem great atthe time... but later, not so much. this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? lou: you can a environmentalists to the growing list of susan rice as potenal nomination to t secretary of state. that is what she needed, little bit more o
the fiscal cliff, no game. the a-team tells us whether the president will listen or whether president will listen or whether he will get ready to anand we can save you 10% on ground shipping over the ups store. look this isn' my first christmas. these deals all seem great atthe time... but later, not so much. this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. olaf gets great rewards for his small business! pizza! [ garth ]...
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Dec 6, 2012
12/12
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we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and dividend taxes going much higher. what will that do to the investor class, to the entrepreneurialism that we're seeing
we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it...
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Dec 5, 2012
12/12
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tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not affected by the top 2 percent. having said that, they want people to get back to work. people to have jobs to have incomes to buy from the small business people. blue are small or large you want to know which, how are the laws going to be, what are the tax lie bills going to be, and this congress owes it to the american people to tell them. >>eric: congressman, america has always been about hard working people earning, creating jobs, creating opportunity, passing a better life on to the next generation, to their kids, i don't know, at some point maybe you say it is time to man up, go over the fiscal
tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not...
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Dec 6, 2012
12/12
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WTTG
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the fiscal cliff gets closer and closer. so what's it like to grapple with fiscal issues inside congress? both of our next guests served on the budget committee. joining us now is marty russo of illinois. he served on the house ways and means budget committees and robert walker of pennsylvania now executive chairman. good to have both of you gentleman here. we've hit this theme before. before i get into the details, i want to stress again, you guys, you come from opposing points of view. but you were able as were many back in the day able to work together, find places where you could compromise. why does that seem to be so difficult now? >> well, in our days, it wasn't the majority of a majority. it wasn't like parliament system. we'd pick up republicans to pass. in those days bob michael was a heck of a minority leader. they would battle on the house floor. but in the end, it was what's in the best interest of the country. that's the same thing they did with president regan. it's what's in the best interest of the country r
the fiscal cliff gets closer and closer. so what's it like to grapple with fiscal issues inside congress? both of our next guests served on the budget committee. joining us now is marty russo of illinois. he served on the house ways and means budget committees and robert walker of pennsylvania now executive chairman. good to have both of you gentleman here. we've hit this theme before. before i get into the details, i want to stress again, you guys, you come from opposing points of view. but...
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Dec 4, 2012
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the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best wa
the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the...
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Nov 30, 2012
11/12
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you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean problems for everyone globally and no one would want that. i'm sure that you'll be able to find the right solution by the end of december. >> let us hope. mr. michalos, thank you very much. sue? >>> thank you, ty. two big winners in that $587 million record powerball lottery. but how much do you really need to earn to make you happy? the answer may surprise you. >>> and before you fill up your tank with gas, listen up. aaa is warning regulators to stop sales of a certain type of fuel at the pump because it could damage your car and void your car
you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean...
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>> two words, fiscal cliff. we are absolutely frozen because we don't know what is going to happen come an end of the year and i'm afraid. we started to hear chatter about the government might just think this embolden them. the economy can handle as going over the cliff which is absolutely crazy but that is what we are starting to talk about down here. here we go again. that is why nothing is moving. stuart: merry christmas in chicago, we do appreciate it. see you again soon. major blow to unions in one of the biggest union state in the country. protests at the state capitol in michigan after the state legislator passed right to work laws. the governor says he is going to sign it putting michigan on track to become a right to work state. the unions absolutely furious. listen to this. [chanting] stuart: when you heard it before and heard it again. vincent the new geo of the center for public policy is in michigan. let me get things real straight here. if you have a right to work state, membership in the unionn be
>> two words, fiscal cliff. we are absolutely frozen because we don't know what is going to happen come an end of the year and i'm afraid. we started to hear chatter about the government might just think this embolden them. the economy can handle as going over the cliff which is absolutely crazy but that is what we are starting to talk about down here. here we go again. that is why nothing is moving. stuart: merry christmas in chicago, we do appreciate it. see you again soon. major blow...
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Dec 4, 2012
12/12
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KQED
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everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to the book in a moment. based upon the motion -- that notion, why might the fiscal cliff be a good thing? >> we have been stuck for four years in a state of complacency. nobody wants to do anything about the accumulating problems. everybody knows about the problems. i think the civilization is masking deeper problems. if you let markets give you information, they will give the information. other than artificially prop up everything, like having the federal reserve control prices. this is not a long-term sustainable situation. what i think should happen is -- you would rather fail earl
everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to...
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i think that the ramifications of the fiscal cliff, um, will be important. i'm optimistic that we're going to get some leadership in washington that'll actually save us from having to go off that cliff or down that hill, if you will. but i think we are -- there's uncertainty. and whenever there's uncertainty, the market will have less volume in it. liz: tom kloet, good to see you. >> thanks for having me. liz: ceo of the tmx group. david: a u.s. plant right in the heart of canada. they don't realize it yet. [laughter] good to see you. >> thank you. david: well, is now the time to buy apple? a morningstar senior equity analyst thinks so and says some of the blame for the recent decline should fall on washington. why? find out why, coming next. liz: plus, choice hotels expanding its upscale brand right here in america. they must believe that there's a real market here. find out why they're starting three brand new upscale ones at least here in new york. steve joyce, choice hotels ceo and president, joining us after the break. ♪ music is a universal language.
i think that the ramifications of the fiscal cliff, um, will be important. i'm optimistic that we're going to get some leadership in washington that'll actually save us from having to go off that cliff or down that hill, if you will. but i think we are -- there's uncertainty. and whenever there's uncertainty, the market will have less volume in it. liz: tom kloet, good to see you. >> thanks for having me. liz: ceo of the tmx group. david: a u.s. plant right in the heart of canada. they...
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the 2% is part of the fiscal cliff, sequestration due to the fiscal cliff. melissa: at the same time these doctors at end of the day end up paying higher income tax after what they're making at work is cut. when they get home and the government comes back and takes a bigger bite. >> melissa, your viewers many already faced with this $250,000 or above tax that is going to occur if this isn't solved. i want to point out physicians this is gross figure, many physicians have a lot of expenses hidden in that. they're not making $250,000. the cost of machinery. cost of tests. cost of keeping offices open. every small business has the problem. doctors will get in the position to say wait a minute, i can't afford to take care of those patients. maybe they go to the hospital. melissa: on top of all that the doctors are affected by the health care act's restrictions. >> they will not be able to offer certain technological solutions because insurance won't pay for it. i want to order that test but insurance won't pay. i'm still liable even if i can't order it. obamacar
the 2% is part of the fiscal cliff, sequestration due to the fiscal cliff. melissa: at the same time these doctors at end of the day end up paying higher income tax after what they're making at work is cut. when they get home and the government comes back and takes a bigger bite. >> melissa, your viewers many already faced with this $250,000 or above tax that is going to occur if this isn't solved. i want to point out physicians this is gross figure, many physicians have a lot of expenses...
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Dec 6, 2012
12/12
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but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of fame. >> yes, thank you very much. kind of proud, i dedicated by admission to mark haines who put me on tv. when david and joe would do "squawk box," he put me on tv. and mark was inducted into the hall of fame last year, because he said there's room for like guys that were bald and fat. right then i was trading at 2.15. now it's a point lower. >> no free passes. >> well deserved, congratulationings from all of us. you're going to stick arounder for lululemon. >> speaking of which, coming up, the ceo of lululemon will talk to us about the holiday season. and apple, a slide back into u.s. territory. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby a
but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of fame. >> yes, thank you very much. kind of proud, i dedicated by admission to mark haines who put me on tv. when david and joe would do "squawk box," he put me...
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Nov 30, 2012
11/12
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KTVU
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the reason for that is really clear: a lot of it has to do with the fiscal cliff. > the fiscal cliff. you asked some questions about that. what were the findings there? > > we really asked about how much is the fiscal cliff impacting you in terms of whether you are going to hire or not. what we found is that 60% of folks said they are going to hold off on bonuses for wait and see what happens with the fiscal cliff before they make some decisions around that. we saw almost 40% of small businesses saying, "if we even thought about hiring, we are going to wait until we get some kind of resolution around the fiscal cliff. and most concerning to me, 60%+ of small businesses don't believe the government can figure out how to solve this fiscal cliff. > c'mon congress and president. all right, michael alter. i'm going to see you in a month. let's see if some things are improving. i appreciate it. > > i can only hope. thanks for having me. just ahead, are banking stocks ready to short circuit? a couple of traders charge in with their views after the break. >-.y÷$@y+o3vhpe the time has come fo
the reason for that is really clear: a lot of it has to do with the fiscal cliff. > the fiscal cliff. you asked some questions about that. what were the findings there? > > we really asked about how much is the fiscal cliff impacting you in terms of whether you are going to hire or not. what we found is that 60% of folks said they are going to hold off on bonuses for wait and see what happens with the fiscal cliff before they make some decisions around that. we saw almost 40% of small...
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Nov 29, 2012
11/12
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FBC
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fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest developments on the fiscal cliff plus new taak that the fed, guess what, will continue its bond buying programs next year. for more on the markets, i'm joined by bob pavlick, chief market strategist at banyon partners. bob, thanks so much for being here. let's get to the fed issue here. so what is what i say. they will expand or continue the program of buying assets. what impact will this have if any? >> operation twist what they call it. sell short paper and buy long term bonds in order, in an effort to try to continue to keep long-term interest rates low. really what it is
fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest...
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next, how cherry's could be the latest victim in the fiscal cliff talks. the president of the united way joins me next. gerri: coming up, the war over charitable deductions. will they survive the fiscal cliff? is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent washington post op-ed. overwhelmingly the charitable deduction benefits the wealthy. here to discuss, president of independent sector and stacey stewart, president of the united weight both of whom met at the white house with the president. white house officials pleading there case. i can't imagine having to better guess for this segment. i want to start with this idea because it kind of blew me away when i saw. a major beneficiary for the charitable deddction, the %-i thought what about that charities and all the people who do -- to rely on them for there good work. let's star
next, how cherry's could be the latest victim in the fiscal cliff talks. the president of the united way joins me next. gerri: coming up, the war over charitable deductions. will they survive the fiscal cliff? is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent...
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going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically,
going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013....
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Dec 5, 2012
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>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to be a two-armed economist because i can't said on the other hand. there's two things that are very important. first of all, credit in commercial real estate is phenomenal. cap rates are really low. so the fact that rates are as low as they are has allowed commercial real estate not to fall into the abyss. if commercial real estate had to refi at high rates, we would have had another problem. the other problem is the fact margins are getting squeezed at these banks. credit quality is better. >> that's where the money comes from. >> yeah, fees. by the way, you can eat thes
>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to...
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we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether...
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a gop counteroffer on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200 billion. and further discretionary savings of $300 billion. guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we do
a gop counteroffer on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200...
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Dec 5, 2012
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we're talking about fiscal cliff, and we're forgetting about the weak economy in the uk. there are two things that i'm watching. i'm looking at central banks around the world constituent adding physical gold to their coffers to the opportunity of 400 tons. and a new investor class, the etp, investors holding 2600 tons of gold and the fourth largest holder. so when i start watching, if we start reducing those levels, maybe the top is in. by the way, the dollar is closer to the lows than it is to the highs, so keep an eye on the dollar as well. >> okay. it sounds like it's too early to call in your view. let's look at what goldman is cowling for. they're cutting their 3, 6 and 12-month targets. do you agree with those levels where you see it going long term and short term? >> jackie, you know, the numbers we have to watch right now, i don't know if i necessarily agree with those numbers. but the numbers we're looking at right now are the numbers we have covered on this show a few times. it's 1675 to 1672. that's the big support there. if we get through that, we'll see 1600,
we're talking about fiscal cliff, and we're forgetting about the weak economy in the uk. there are two things that i'm watching. i'm looking at central banks around the world constituent adding physical gold to their coffers to the opportunity of 400 tons. and a new investor class, the etp, investors holding 2600 tons of gold and the fourth largest holder. so when i start watching, if we start reducing those levels, maybe the top is in. by the way, the dollar is closer to the lows than it is to...
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everybody knows about the fiscal cliff. your kids probably know about the fiscal cliff. this is a new moment, which is filled with guys, but that it is also an opportunity, which is if we can't do it now or this member of congress new changes have to be made in may for the ness partner with these changes need to be, but something forces them to do it, and this is the best move that we've had. let's hope we don't go through these political values for they fight it out and we are almost frustrated because they can't cover and the headline the next day after wachovia put together since the u.s. still faces a huge fiscal problem. what we really want to do is put in place a plan big enough to fix the problem and that's going to be what's going to have the upside of the certainty of stability around the corner and importantly finally showing to all of us that this country can govern itself. the whole world is watching right now i'm rooting for us. people want the united states to claim out and fix this problem and the clock is ticking as we wait to see if they'll be able to do
everybody knows about the fiscal cliff. your kids probably know about the fiscal cliff. this is a new moment, which is filled with guys, but that it is also an opportunity, which is if we can't do it now or this member of congress new changes have to be made in may for the ness partner with these changes need to be, but something forces them to do it, and this is the best move that we've had. let's hope we don't go through these political values for they fight it out and we are almost...
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the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the fiscal cliff starts getting resolved, you will see some buying going on. cheryl: bobby, i want to go back to you about europe. we have not had a lot of problees. seems like the greeks are kind to getting things. >> the last few days, europe markets have been pretty strong. as you said, a sleeping giant. cheryl: i do not want to see anything change. it has been nice. gentlemen, thank you. i appreciate it. great floor show today. uncertainty seems to be the norm in washington these days. last year you have the debt ceiling convey. congress had trouble pu
the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the...
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the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> democrats shot back. >> they are not only blaming her for this intelligence report, they are trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house could i write a book. >> or make an internet video. >> not be a true god-fearing person and be on a television show like that. >> that's actor angus t. jones, the "two and a half men" star caught slamming his own tv show. >> if you watch "two and a half men," please don't watch "two a
the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >>...
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here we are on the edge of this fiscal cliff. a lot of people say if we go over, we're going to see dividend taxes go to 44% next year. do i really want a special dividend now if in a few weeks or in a month it's going to be an issue for me because i've got a 44% tax bill? >> i think you buy dividend stocks here. based on everything i'm reading, it seems like the white house, the democrats are willing to give up the high-dividend tax rate to get something. it seems like that's the first thing they're going to be flexible on. maybe the rate goes 20 to 25%. i don't think you see high 40s. >> that's capital gains. 15% is dividends, right? >> dividends. >> where does that go? >> i think the dividend tax rate, some people will believe it will go up significantly. i think the white house, at least on dividend gains, is going to be very flexible. i don't think you see the rate higher than 25%. >> if that happens, i think you'll probably not see a flood of companies move those dividends forward. if it's 43%, you'll see a flood going from
here we are on the edge of this fiscal cliff. a lot of people say if we go over, we're going to see dividend taxes go to 44% next year. do i really want a special dividend now if in a few weeks or in a month it's going to be an issue for me because i've got a 44% tax bill? >> i think you buy dividend stocks here. based on everything i'm reading, it seems like the white house, the democrats are willing to give up the high-dividend tax rate to get something. it seems like that's the first...
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falls off the fiscal cliff. if the cliff is averted... >> then i think you will see silver, platinum, palladium-- the so-called white metals-- outperform gold, because they will tend to outperform in a risk-on environment in a cyclical upturn. >> reporter: now, the other scenario: >> in an environment where we go off the fiscal cliff and we see continued problems on the debt side for the u.s., i think the gold price outperforms the white metals. >> reporter: gold's price will also depend on whether central banks continue to diversify their holdings into gold, and whether they implement more quantitative easing to boost growth. the outlook for platinum is a little more complicated. there have been major supply disruptions due to labor unrest in south africa, which produces nearly all of the world's platinum. it also depends on demand. >> europe is a key part of the platinum demand picture. if europe can recover, certainly that's going to bode well for platinum demand. if the price trades higher, it may affect som
falls off the fiscal cliff. if the cliff is averted... >> then i think you will see silver, platinum, palladium-- the so-called white metals-- outperform gold, because they will tend to outperform in a risk-on environment in a cyclical upturn. >> reporter: now, the other scenario: >> in an environment where we go off the fiscal cliff and we see continued problems on the debt side for the u.s., i think the gold price outperforms the white metals. >> reporter: gold's price...
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i wanted just go back to the fiscal cliff just for a second. that is, the republican messaging, if you will. they have an opportunity here, it seems to me, as well as a problem, but i don't hear creative, imaginative, if you will, rhetoric or language or positioning or messaging. >> we have been for about three years now. so i think there's no reason for it to start now. what house republicans have to understand is they are the republican party for the next four years and have to have messaging and basically tell the american public what they're doing and why they're doing it. they can't be for tax cuts, for spending cuts. they have to articulate how it fits in the big picture. there are some skilled people that need to step forward. lou: would i be too cynical to say that perhaps the president has an additional advantage in this little carrousel of nonsense around the fiscal clef in that it also deflects and distracts from that half trillion dollars in new taxes that will be hitting the middle class in this country as a result of obamacare beg
i wanted just go back to the fiscal cliff just for a second. that is, the republican messaging, if you will. they have an opportunity here, it seems to me, as well as a problem, but i don't hear creative, imaginative, if you will, rhetoric or language or positioning or messaging. >> we have been for about three years now. so i think there's no reason for it to start now. what house republicans have to understand is they are the republican party for the next four years and have to have...
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it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >>> welcome back to "fast money." oracle the latest company making a tax dividend. going to pay out a total of more than $850 million
it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal...
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and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama proposals by saying you're not cutting spending, you're not coming to us on entitlements, but it's falling flat. no one's really listening and the white house has controlled the debate that it's all about the upper 2%. the first thing in texas you do is shrink the size of government, wouldn't you? >> well, we did that. we faced a substantial budget shortfall. we have a constitutional amendment that requires us to have a balanced budget, which frankly america needs that. >> i don't know what would happen. >> most states have that. >> the states that are -- i
and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama...
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country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary of defense and joint chiefs of staff told me i need to restore and can position himself as sort of the protector of u.s. national security. so there are some clear incentives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably not, but do i think there are incentives for him to do it temecula. gerri: never looked at it that way. as you look at this debate on going, there are a lot of folks who say we will be flirting with recession or in recession if we do go ove
country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that...
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should we stet the job on the fiscal cliff? >> i could not agree more. felt verydiscouraged the presidet this been more time c campaning thathe did of the begiing of his campaign. we need to have serious negotiations. we need our leaders, and the president was elected by the people. he needs to sit down now and the leader along with ourleaer, the speaker, and talk seriously about these plans. gerri: small busess, big business. the governor. who is lef for t predent to talk to? >> well, we also founthat the president was out at various bunesses encouraging the electric ted send it to it's about what he wants. and that is not the way that you get a negotiation going, byy talking about this andthe public as he has. he needs to sit down with the leaderof the house and the senate and he needs o be the leader on this. we are not seeing it here, and it's very, very discouraging. gerri: o what you torespondto what nancy pelosi had tosay about hostage-ting today. pretty dramatic comments. th is nncy pelosi. >> the republicans are sayg that rather than pasing that
should we stet the job on the fiscal cliff? >> i could not agree more. felt verydiscouraged the presidet this been more time c campaning thathe did of the begiing of his campaign. we need to have serious negotiations. we need our leaders, and the president was elected by the people. he needs to sit down now and the leader along with ourleaer, the speaker, and talk seriously about these plans. gerri: small busess, big business. the governor. who is lef for t predent to talk to? >>...